Lindsey Owns and Actively Manages an Apartment Complex

question 27

Multiple Choice

Lindsey owns and actively manages an apartment complex.This year,the complex generated a $40,300 net loss.If Lindsey's AGI before considering this loss is $118,200 and she owns no other passive activities,how much of the loss is deductible this year?

• A)$0
• B)$9,100
• C)$25,000
• D)None of the above

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Definitions:

Gold Background

A technique in art, particularly seen in Byzantine and medieval works, where gold leaf or paint is applied to the background to signify divine or sacred light.

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The format and set of practices used during worship in Christian traditions, including prayers, readings, and sacraments.

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Structures that are owned and operated by the government, designed for public use and services, such as schools, libraries, and courthouses.

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An architectural term initially used to describe a Roman public building, and later, Christian churches, characterized by a large central nave with aisles.